Why You Need A Broker
In one word, protection.
When doing business in an environment that is new or unfamiliar, you need the help of experts. How laws in Mexico are laid out is important, but even more important than that is how those laws apply to you, a non-Mexican. That is where we come in.
Unfortunately real estate doesn’t operate the same as in the US and Canada, this is to say that the transparency and way of doing business is very different than what even the most experienced American or Canadian investor is used to. There are many ways to do things wrong in a Real Estate transaction in Mexico that can have consequences even many years later. We have seen and heard many stories, but the pattern is very clear, without representation in all stages of the transaction, the risk level is simply not acceptable.
Nearly across the board, the goal of the Agent (s), the Attorney (s) and the Notary in Mexico is to simply close the transaction to charge their fee. To some extent this could be said of the banks as well. All of the afore mentioned parties make money when the transaction is closed, so that is their end goal. We differ for one very important reason, how we view the process. By taking a long-term view to our business and creating relationships built on trust, we offer a service that our clients have come to expect. In the end protecting our clients, doing things right, and thinking ahead means that our clients are more satisfied and by far our most valuable assets. Nearly 80% of our business comes from repeats and referrals.
The job of your Broker does not end at closing. The most important part of the transaction actually happens after the sale, making sure that the property is legally registered and recorded in the name of the new buyer. There is a system in place in Mexico to make sure that it happens, but that system is by no means full proof. After hundreds of transactions we can say that there has never been a transaction that was not fully recorded on our watch. There are many reasons why you need representation in the buying process. Here are the top 8.
- We save you money. With no MLS, and “comps” not available publicly like in the US and Canada, how do you know you are getting a good deal? Our market expertise is how. We have a construction company, a real estate brokerage and a property rental company under the same umbrella. We cross reference data to understand what the income potential of the property is, and inspect it to see if it was built well. All of this data goes into the assessment of the valuation done before closing and it is how a true professional is differentiated from the rest of the market. Because of our local knowledge, market awareness and access to information, we can match your needs and wants, to what is really out there in the market. Then we negotiate the best price, on the best property based on real information.
- Due Diligence. After so many transactions, we are very familiar with the step-by-step process of exanimating properties. Just because you see something on the internet does not mean it’s true. Protecting our customers is our full time job. This can be from protecting our clients from Realtors in the bait-and-switch business, lawyers who just want to make a buck, or unscrupulous sellers who are trying to sell properties without a title. Don’t pay for somebody’s learning curve at your expense, contract somebody who knows.
- Proof of Legality. Just because a property does exist does not mean it has a title. Here in Mexico there are 3 kinds of property, only one of which non-Mexicans are allowed to buy. That is just like the States “fee simple” property. Knowing the legalities behind each type of properties, and how that relates to you, is vital to understanding the best way to acquire it.
- Right of Occupation.
- Fee Simple Title (this is the only way that you, as a non-Mexican, can legally own property here in the “restricted zone”).
- NAFTA Experts. NAFTA was a game changer. By understand the agreement, and how it has accounted for a doubling of the countries GNP, as well as making tourism and foreign investment the largest source of revenue for the Federal Government, we know how to keep you protected. Mexico has made it very easy to invest, that is why nearly every major US multinational, from Marriot to Coca Cola, have huge investments here, but the rules must be followed. A buyer that did not do things correctly cannot plead ignorance later.
- Tax implications / Exit strategy. Tax rates today, and a fiscal plan for when the property is sold at some date in the future are vital to how the property is acquired today. By starting the process with an exit strategy, our specialists turn a lifestyle choice into an investment.
- Self Interest. You are our concern in the transaction, not the seller, not the lawyer, not the local Government, you the buyer! That is the perspective that we take with every action.
- Communication. WE speak your language. We not only can talk to you in your native tongue, but we can translate the terms and conditions of the contracts and transactions into language you are familiar with.
- Results. Our track record speaks for itself. Google us. Check with the Embassy. There has never been one bad critique of our company in any transaction because we do exactly what we say we are going to do.
At best it is frustrating not knowing the local laws or customs. At worst it can cost your investment. Our clients have found that working with a trusted, experienced Realtor like ADC, pays off both today and in the long run.